El Salvador’s Phase 2 review demonstrates their high level of commitment to the international standard for transparency and exchange of information for tax purposes with an overall rating of “Largely Compliant”. Generally, El Salvador has a solid legal and regulatory framework ensuring that ownership, accounting and banking information is available for all relevant entities. These obligations are monitored by the DGII and the regulators who have a comprehensive system of oversight in place. However, El Salvador should ensure that an appropriate mechanism in put in place to ensure the ownership information for bearer shares is available in all cases. El Salvador has sufficient access powers and the right balance has been struck between rights and safeguards and accessing information. Having recently joined the Multilateral Convention, El Salvador’s network of information exchange mechanisms covers 90 jurisdictions including all relevant partners. To date, El Salvador has not received any requests. Therefore, El Salvador should continue to monitor all EOI processes, including its newly implemented EOI Unit and manual to ensure that all of its EOI processes are utilised efficiently to respond to EOI requests in a timely manner. For further information on El Salvador’s exchange of information practices and to read the full report click here.